Oxford PV has announced it has secured a further £8.02 Million (around $11.2 USD) in funding from its existing investors including Statoil and Legal & General Capital, to continue the commercialization of perovskite-on-silicon tandem solar cell technology.
The funding will enable Oxford PV to continue to transfer its advanced perovskite-on-silicon tandem solar cell technology from the company’s lab in Oxford, UK to industrial scale processes and equipment at the company’s demonstration line in Brandenburg an der Havel, Germany. Oxford PV is working to fully optimize its commercial sized perovskite-on-silicon tandem solar cell technology, to ensure ease of integration into large scale silicon solar cell and module production. The company is closely collaborating with its development partner – a major manufacturer of silicon solar cells and modules.
Frank P. Averdung, Chief Executive Officer at Oxford PV stated, “We are proud to continue to partner with a diverse range of leaders in the venture capital and strategic investor communities, recognizing the strength of the opportunity our perovskite tandem technology has to revolutionize the global silicon solar market. Over the last few years Oxford PV has built significant momentum and has now scaled up the necessary infrastructure such as R&D competencies, industrial capabilities, and a joint development partnership with a large photovoltaic player, enabling the company to maintain its leadership position in this area and bring a commercial perovskite PV solution to the silicon solar market in the near future.”